Ecommerce Information

Keep Your Customers Happy by Organizing Your Payment Options


Anyone using a slow, or an awkward payment processor had better wake up!

There are some very slick ways to transfer money around the globe, in todays, lightning fast world, both your customers and your suppliers demand payment in the click of a mouse.

The processing companies have been fiercely competing with each other for years now, every so often, they revamp and recalibrate. These overhauls usually result in a safer, quicker or easier online transaction.

Anyone staring out in business must have a way to offer customers a safe and fast transfer of their hard earned cash. If you choose an unfamiliar card processor, how can you gain the trust of your audience? You won't.

Have you ever been in the situation where you see a product, reach for the plastic, start the process, only to find a strange new payment processor that wants to know lots of personal details about you? This can make you think twice, and many times, a sale is lost in that crucial moment.

Start with the most widely accepted, and backup with a second and third option. This has a treble safeguard built in. Firstly, just like high street banks, online processors, occasionally upset people with rules and regulations and they look elsewhere, it is a courteous policy to provide an alternative processor for these customers.

Almost unbelievably, some areas of the world are still unable to process money with all the providers; the second safeguard is to offer a payment option that can service their needs.

Thirdly, you must protect yourself, if a processor receives a complaint against you, or finds one of its more obscure rules to inflict upon you; then your facility can be put on stop instantly. You must have some backup in place before that happens.

Since its acquisition by EBay, Paypal has become dominant in peoples acceptance of paying for goods online. This acceptance makes it the first choice for online retailers across the globe.

It is free to use, and free to join, Paypal services 45 Countries and it boasts of being free for buyers and free to set up for sellers, no wonder it grew so big so fast. Paypal's concept was the ability to pay anyone with an email address, a wonderful idea that deserves merit; this has been completely sidetracked by the viral element of the marketing behind the scenes, to become a major online merchant.

Once sneered at by the banking system, Paypal has earned its position as the people's provider, by reacting quickly to an opportunity and evolving to suit the needs of its customers.

Paypal is the main player, it has become the market leader in the biggest market the world has ever seen, and it continues to evolve, I predict that Paypal will move into the league of Microsoft within the next decade, love it or hate it, you must have it.

There are alternatives and these should be adopted to suit your chosen market.

To suit the needs of your customers in the Countries, not serviced by Paypal you need a merchant that is widely acceptable; 2checkout will turn plastic into cash for you, but it is presently wrestling with a transition from version 1 to version 2.

It can convert any credit card into money in your account. Along with the changes, came new rules, for instance, you cannot name it a credit card processor, or payment gateway, you must call it an authorized retailer or out-sourced vendor solution. They appear to be boxed into a corner, and will loose market share, watch this space. This is the path they have chosen, I personally think this is a bad business move, and time will tell, but for the present 2checkout are widely recognized and they are a safe bet to back up Paypal on your site. On the downside, they charge a fee for new accounts, the charge is $49 but it is only a one off payment.

My next choice is Stormpay, they set out, hot on the heels of Paypal, offering a similar service. At first it was difficult to work with, but Stormpay has reacted to market trends and has matured to a level that is now acceptable in the mainstream business community.

With the soon to be released issue of the Stormpay debit card, funds can be withdrawn, directly from an ATM. They boldly claim to be able to offer more ways to send money, sell items and receive payments than any other internet provider.

Stormpay is more tolerant towards the small business user, it welcomes subscription payments, multi tier payments, and is even trying to gain on paypal by launching its own auctions.

It is very much the little brother of Paypal, but is gaining ground daily. I have watched its maturity over the past couple of years, and, although it has a long way to go, all the signs are in place that Stormpay will sit next to Paypal on many retailers' sites for years to come.With less flexibility and a free signup comes Clickbank. Many people adore clickbank for the way it allows other people to sell your product for a commission on the sale.

You see clickbank has over 100,000 vendors that love to sell other peoples stuff, for a commission. How it works is like this, you place a product for sale on Clickbank, you set the price and commission percentage, you then create a sales page on your site. You allow Clickbank vendors to drive people to your site, using their unique Clickbank ID. If a buyer buys from one of Clickbank's affiliate vendors then you pay a commission on that sale, this is a very powerful method of selling product.

No matter how good your website and advertising is, it cannot compete with the power of the Clickbank resellers helping you out, and don't forget, they also drive traffic to your site.

You can only sell digitally delivered products like ebooks and software, this limits your ranges, but boosts your speed of delivery, making the transaction instant. Payments from Clickbank to you are twice a month.

You may sell your own product or any one of the products in the Clickbank marketplace, your customers can pay by Visa, MasterCard, American Express, Discover, Eurocard, Bravo, Diners Club, Carte Blanche, JCB, and online checks, they even accept PayPal.

For a straightforward, recognized, payment provider, using its own merchant facilities, try Worldpay. They operate in most languages and currencies around the world. Go to http://worldpay.com/ and click on the flag of your language, this takes you to the main page for the site, best suited to your business needs.

Many people like to keep their eye on the new kids on the block, if you are one of these people then you should take a look at PayDotCom.com I was a beta tester for this system and have advanced knowledge of it. Signup is free and bonuses are given for referrals. PayDotCom is the first to rival Clickbank and by doing so, it has opened up a whole new area of competition. You can asses PayDotCom here, http://homebizassistant/paydotcom

As with all things related to your business, any payment options given on your site are just another tool. These should be chosen firstly, to suit your customers' needs and demands, and then secondly, you must adapt your customer needs to suit your business. This customer focus will pay dividends in increased sales and acceptance.

Pete Lauder is a 47 year old entrepreneur with many years of online marketing, his focus is always slanted to serve the customer first and to build around that. This article, and many others about setting up your online business can be found at http://homebizassistant.com/

Copyright 2005 Buygum Ltd.


MORE RESOURCES:
Internet and Businesses Online:Ecommerce Articles from EzineArticles.com
01/16/2018 09:18 AM
Escaping The Pains Of Long Term Storage Fees
After a big sales event like Christmas or Prime Day, third-party sellers on Amazon should pay immediate attention to their unsold merchandise at fulfilment centres. Inventory that's been stored for six months or more should be cleared out or sellers risk spending their profits on high long-term storage fees.
01/08/2018 02:40 PM
4 Possible Reasons Your Ecommerce Return Rate Is High
In reality, returns are a fact of life when it comes to online shopping. Still though, brands can do their part to minimize this costly, time-consuming process. Here are four possible reasons your ecommerce return rate is high; if any of these apply to you, it's time to work on a solution to improve your bottom line and customer experience.
01/08/2018 10:13 AM
Impact of Demonetization on the IT Industry
India Inc. is eagerly waiting to see the impact of demonetization thanks to the government's effort to bring in a cashless society. Although the move can give a boost to the IT sector, all depends on the swift response of businesses especially the SME and MSME segments to stay connected for cashless transactions.
01/03/2018 11:44 AM
5 Reasons Why Mobile Marketing Is Important
Mobile marketing is the new definition of internet marketing. Mobile has become an essential part of our life and people nowadays are extremely comfortable shopping online using their mobile devices.
12/28/2017 11:39 AM
The 3 Best Ecommerce Website Platforms for Small Business
If you're starting an ecommerce business (or already run a brick-and-mortar business that you are looking to expand online) choosing the right ecommerce platform can quickly become painfully confusing. With such a wide range of platform choices (and prices) out there in the wild, how can you be sure that the ecommerce software that you choose is right for your small business? To save you the headaches, we've narrowed it down to our 3 favorite options below:
12/28/2017 09:15 AM
How Can You Benefit Out Of Shopify Custom Development?
Shopify App Development service is a popular e-com platform available in the market for rising online businesses. Shopify provides a self-hosting solution. In addition, it features a bunch of tools in exchange of a recurring subscription charge. It further sets up a retail space for your online shop as the host.
12/27/2017 11:05 AM
Magento Versus WordPress: Which Is The Better Platform?
In the era of digitization Magento and WordPress has emerged as most famous platforms for constructing thriving online webstores. One of the most frequently asked question around the globe is which is the better platform between Magento and WordPress?
12/27/2017 09:49 AM
Magento Takes Ownership Of Amazon's 1-Click Button
The last thing that shoppers want, especially when they're cramming for last-minute presents during the holiday season, is an excruciating checkout process. To many people, it's just pointless to waste their time on a repetitive task which a store owner obviously has to find a solution to. Thanks to Amazon whose 1-click patent expired in September this year, Magento has become the first eCommerce platform to offer a similar feature to ease the checkout experience of customers and boost the conversion rates of online sellers like you.
12/19/2017 09:27 PM
FBA - Fulfillment by Amazon
You may have read about FBA on many websites, especially on Amazon. FBA stands for Fulfillment by Amazon. What is it and how does it work? Can you save money or enjoy other benefits with this offer or process? If you are looking for answers to these questions, you are on the right page.
12/13/2017 03:56 PM
How to Choose the Most Suitable Online Shopping Cart?
An eCommerce store is incomplete without an online shopping cart. It won't be wrong if we call the online shopping cart as the heart of the eCommerce website. A good shopping cart is always responsible for the growth eCommerce business and customer satisfaction.
12/13/2017 11:35 AM
A Few Characteristics Of The Best Android And iOS Payment Gateway Services Providers
These are some of the attributes of the best Android and iOS payment gateway that you should know about. Easy integration- When it comes to integrating a payment gateway with your mobile website or mobile app, on either Android or on iOS it is slightly different
12/08/2017 09:38 AM
Digital Content Outpaced By Physical Media
Does your inventory include physical books, DVDs, Blu-ray discs, and other similar products? If you answered a confident "yes", aren't you lucky! That's because physical media is making a strong comeback, especially in the UK, and can drive up your revenue this holiday shopping season.
11/27/2017 11:24 AM
Holiday Season Tips For Ecommerce Websites
Festivals are here along with the winter! What have you planned for your ecommerce business? If you haven't decided to give it a makeover, now is the time for you do that. This article will help you prepare your ecommerce store for this festive season.
11/27/2017 09:53 AM
Online Payment Insights To Boost Your Conversion Rates Like Never Before
Customer journey mapping is used to identify customer touchpoints. Different techniques are then used to fine tune these touch points so as to offer your customers a unique and unforgettable experience.
11/25/2017 05:26 PM
How Soon Before I Make Money?
When it comes to earning money online are you trying to earn a quick buck or are you trying to build a business? You should ask how soon will I make my investment back. Not how soon can I make money.
11/22/2017 09:25 AM
Do the Most Common Design Rules Apply to Ecommerce As Well?
The rules for e-commerce and the rules for design are many times contrary. Although minimalism and streamlined interfaces and limited text (as well as messaging) are commonly associated with some of today's best design projects they may not be practical on a retail site. For ecommerce sites, conversions are the ultimate goal.
11/21/2017 09:54 AM
GS1 Identifies The Six Types Of Online Sellers
GS1 sets product identification standards to ensure that consumers are able to locate the products that they want, whether in-store or online. As the number of businesses using online marketplaces to sell products increases, GS1 saw the need to identify the purpose of these businesses and the challenges that they face. Their findings reveal that there are six types of online sellers whose reasons for selling on online marketplaces are triggered by various factors.
11/13/2017 02:56 PM
The Importance of a Good, Clean Image for Your eCommerce Store
We live in a world where people are overwhelmingly focused on visuals, and, especially when it comes to the internet, appearance is everything. What customers see when visiting your website has an enormous impact on the success of your online business. When considering the most successful online retailers, they all have one thing in common: a streamlined and visually stunning website complete with high-quality, professional imaging.
11/09/2017 08:51 AM
Facelift Your Online Business With Magento 2 Development and Support Services
Do you have an ecommerce store that was developed years ago and need an upgrade from Magento 1 to the latest Magneto 2 version? Or are you searching for a good consultation company that can offer you unparalleled Magento support services?
11/08/2017 11:32 AM
A Shopaholic's Quest - E-Shopping or Brick & Mortar?
The endless chase is a mere reflection of humans as creatures who want more, newer, better. This chase also happens to be our driving force at most times - a new car, the latest smartphone, and the A line dress that you just can't get over.
11/07/2017 03:35 PM
3 Exclusive Benefits of Providing Poster Printing Services Online
Business owners are on the lookout to promote their business by designing personalized posters. Know how you can benefit by offering poster printing services.
11/03/2017 02:26 PM
9 Essential Elements of a Successful E-Commerce Website in 2017
The internet retailing landscape has become more competitive than ever. Hence, it is crucial for e-commerce retailers to build a powerful and engaging platform that leaves a convincing impression right at the beginning. This article will elaborate the 9 must-have elements that an online retail store should have in order to be well-prepared for the online competition in 2017.
11/03/2017 08:53 AM
Why Go For Magento Ecommerce Website Development Services
There are many reasons why you should use the Magento platform. When it comes to creating a new store or getting to a new version, then Magento tops the list. Therefore, let's take a look at some of its key features and know why Magento is a great option for Ecommerce websites.
10/27/2017 09:24 AM
Shopify Development Services: The New Trend!
Websites are now among global business necessities. Almost all business and corporate entities need a well-designed website to exhibit their services, purpose, brand and goods. Ecommerce websites permit your business to efficiently reach all customers easily. They also provide customers with an opportunity to conveniently deal online from a remote location with devices on hand.
10/27/2017 09:09 AM
How Do Shoppers Plan To Swoop Black Friday Deals?
Black Friday this year is going to be very big in the UK, as 81% of shoppers are planning to go on a shopping spree and swoop up the best deals. In the US, about 44% of consumers said they are looking forward to the shopping event. Knowing this information as early as now could help you prepare and get a bigger piece of the pie.
10/25/2017 09:17 AM
12 Trends In The E-Commerce Industry In 2017 That You Need To Know
People have started looking at Online shopping in the recent years very seriously. If you belong to the e-commerce business, you must know the latest trends. Go with the flow to achieve success. Plan to expand your business keeping the 12 trends in the e-commerce industry given below in mind.
10/23/2017 09:41 AM
Ensure That Your E-Store Is Well Equipped for the Holiday Season
Most of the bulk annual business happens during the traditional holiday season and such other holiday opportunities. While that is true, it's also true that many retailers discover their process inefficiencies and the disconnected data flows that ultimately result in poor customer experiences right when it matters the most. This leads to lost sales and more importantly, damaged reputation.
10/18/2017 08:02 AM
E-Commerce Website Design Trends You Can Observe in 2017
Website design trends pertaining to E-Commerce websites have been changing in sync with the ways customers shop. So, to survive in the competitive race, developers should design websites and consider the trends compiled below.
10/17/2017 10:08 PM
5 Tips to Run an Ecommerce Business
If you want to outgrow your competitors in business, know that it won't be easy. If you want to know how to run your e-commerce business properly, you should have a powerful strategy in place. Given below are a few tips that may help you achieve success as an e-commerce business owner. By following these tips, your chance of achieving success as an online business owner will be higher.
10/16/2017 11:33 AM
Don't Lock Yourself Out of the Giant Sales Platforms - Making More Income With Less Effort
Whether you have just started your eCommerce site or you've been running your business for quite some time, the key to success is reaching out to your potential customers. But, there's a question though - Why would your customers buy from you rather than from the bigger merchants? You probably have the answer to that question already. How successful have you been in spreading out those words? It takes time. So, till your site becomes popular, you'll need to increase your selling channels. You can and you will increase your revenue stream by adding the sales channels if you just step up to it.
10/14/2017 12:34 PM
What Is Ecommerce?
To put into the simplest of words, the world of ecommerce encompasses businesses whose modus operandi is business conducted over a network. Any business that deals in the purchase or sale of goods and services via electronic media (mainly the internet) is referred to as being part of the ecommerce ecosystem. This essentially covers a variety of businesses like consumer based retail websites, auction or music sites, to even exchange of business between corporate companies (B2B corporations).
10/13/2017 03:36 PM
How to Find Suppliers From China Step by Step
While looking for the best supplier, you are recommended to look at "Alibaba" as the first step. As one might be aware, this is the largest online marketplace in the Far East and is known to contain the information about a majority of suppliers in it. However, all of them need not be top quality suppliers. Here, you have an option to send a "Request for Proposal" to a number of suppliers. But, you cannot expect a quality reply from all of them. It's no matter when it comes to a business!
10/13/2017 09:51 AM
Online Makeup and Beauty Products At E-Commerce Sites
There are a large number of e-commerce stores that have got to offer the best variety of makeup and beauty products to its customers. The products are generally medically tested and suitable for all skin types. So, you can choose the best products for you out of the exclusive collection of products being offered by various e-commerce stores. You even get heavy discounts on the products you are looking for.
10/12/2017 11:35 AM
Future of E-Commerce and Delivery Systems
Since that day when a man orders a record online, e-commerce has changed our way of living and how we buy and see things. So considering it's major daily need now, I have collected few data which will describe the future path of this massive business. Hope my readers will like it.
10/09/2017 10:10 AM
How's Your Customer Service Faring On Twitter, Email, And Chat?
The speed at which you respond to customer queries plays a big factor in the success of your business. No matter how amazing your products are, if you don't have the time and the right information to resolve the issues your customers face, you're unlikely to succeed. In this age of digital commerce, when landlines are not as in demand as they were two decades ago, you must be constantly where everybody is - social media sites.
10/09/2017 08:00 AM
Checklist To Help Businesses Pick The Befitting eCommerce Platform
This article sums up the key considerations for entrepreneurs while choosing an appropriate eCommerce platform to kick-start their business on the online front. Undeniably, the process of picking up any suitable platform that best implements all the features of online shopping sites is a hectic one.
10/06/2017 12:00 PM
Growth of E-Commerce in India
E-commerce in India has been rising throughout the years. But what's the driving force behind it? I have collected data regarding it from various places. I hope you would like it.
10/04/2017 12:55 PM
4 Ways IP Geolocation Can Help an Online Retailer
IP gelocation is fast becoming a must-have feature that lets retailers serve localized and relevant content to online shoppers. The technology has the ability to determine a visitors exact city, state, or country and dynamically display content that is most meaningful to that particular location.
10/03/2017 03:35 PM
Learn The Steps To a Successful E-Commerce Business
Have you ever imagined living a life without cars which means trekking long distances, without tractors and the likes which means tilling the soil with hoes, without basically the things that'll make living easier and enjoyable but all thanks to technology and its inventions we have everything at our finger tips. And yes this has widened our horizon and everyone thinks it's amazing owning a business cause once technology is involved, it can be swift and interesting.
10/03/2017 09:51 AM
What's New With Odoo Version 11?
What's new with the latest Version 11 of Odoo? This article will acquaint you with the different features and functionalities of Odoo making it easy for you to implement it to your store.
10/03/2017 07:56 AM
5 Trends to Watch Out for to Deliver a Future Proof E-Commerce Website Design
The world of commerce is increasingly coming over the web. With mobile web getting stronger and sophisticated than ever before, most businesses are now invariably focused to reach their audience with a fluid and versatile experience.
10/02/2017 08:06 AM
5 Proven Ways To Turn A Failing eCommerce Venture to Successful One
This article aims at illustrating some of the proven and tested tactics to prevent an eCommerce startup attempt from becoming a failure and turn it profitable. While eCommerce has become paramount for businesses to thrive in the competitive market scenario, the process of development of full-fledged online store is not that plain-sailing.
09/28/2017 03:24 PM
Magento - The Most Secure and Flexible CMS for eCommerce Development
Magento is an open source CMS development platform. It can be customized easily and conveniently offering user ability to customize and create new features as per the business requirements.
09/27/2017 11:43 AM
How to Easily Buy From China Using a Shopping Agent
For a long time now, China has served the entire world with fascinating products. There is practically no product in the world that Chinese manufacturers have not produced. Little wonder international buyers flock into China day and night for commercial reasons.
09/25/2017 09:29 AM
Tips That Are Relevant For Developing An E-Commerce Website
An E-commerce website must be quick and easily accessible for a customer. It is an online portal where you can buy multiple products. Building an E-commerce website is much more than just making an online store. A good quality website helps you to get potential customers that might become your routine buyers.
09/22/2017 09:51 AM
8 Bots To Ease Repetitive Ecommerce Tasks
Web robots make repetitive tasks easier for online shop owners like you. They are designed to speed up or replace human work, allowing you to spend more time on things that matter more than checking your inventory, sales reports, and other store details by the hour. Bots make an effective stock controller, social media manager, sales analyst, and overall virtual assistant. Get to know eight of the most in-demand robots that can automate some or all of the processes in your online store.
09/20/2017 03:38 PM
How to Come Out of Recession
In the last 24 hours there has been a buzz in the cyberspace with the visit of Google CEO, Sundar Pichai, with a mission of harnessing opportunities with the promise of training millions of Nigerians, all aimed at further advancing the bottom-line of the global company in the long run and also the visit of Mark Zuckerberg CEO of Facebook a few months back. The visits by these tech "heavy weights" are simply pointers to the fact that abundance breeds in lack and lack can also translate to abundance. If we may ask, why will the two Billionaires visit a country...
09/18/2017 08:55 AM
Why Is Node JS Becoming Popular Among Online Retailers?
Node JS is becoming popular among e-retailers these days. This is forcing other retailers, who own eCommerce websites that are built with various other technologies or ready-made solutions to switch over to Node JS now. What is the reason for Node JS becoming so popular in the e-retail industry?
09/15/2017 09:23 AM
How Do Shoppers Buy Holiday Presents?
Our entry into the 'ber' months signals the beginning of the holiday season. But it's only September, you say. Yes, for now, but before you know it, everyone's in a Black Friday shopping frenzy and splurging on Christmas presents. As early as now, start preparing your online store to ensure that your sales and profits go up, and never down. Aside from going over your inventory and making sure that everything that is in demand is in stock, you need to have a look at the shopping plans of your customers. We have here the questions which CPC Strategy asked 1,500 consumers to find out how they intend to do their holiday shopping this year.
09/14/2017 03:35 PM
Global E-Commerce: Will You Refuse Extra 10% Profits?
As for the cross-border E-commerce, costumes and accessories are always developing fastest. There are several highly-recommended emerging vertical E-commerce platforms as follows. They implement independent operation through signing contracts with factories directly. Without any commission, their price is obviously more affordable and more reasonable. If you have demands on procurement and want to get more profits, the aforementioned platforms are highly recommended because you can get extra 10% profits at least.


home | site map |